Updated: May 17, 2024
The NSW Valuer General has seen a significant change with the appointment of
Sally Dale as Valuer General of NSW on 1 June 2023. Ms. Dale, who has a robust background in property valuation within both the private and public sectors, is expected to bring a wealth of experience, particularly in rating and land taxation. Her leadership skills and proven track record in managing large-scale organisational changes are anticipated to address the ongoing issues within the Valuer General's office. The Hon Steve Kamper MP, Minister for Lands and Property, expressed his confidence in Ms. Dale’s ability to set the standards and policies for the land valuation system and determine compensation in the compulsory acquisition process. This appointment is initially for 12 months, with a comprehensive recruitment process to follow for a statutory appointment of seven years.
The process under the Just Terms Act only allows the Valuer General 45 days to issue a final decision, but yet current decisions are running at around 90 days, leaving a flaw in the Act very obvious. There is no recourse for the late decisions being issued, although interest is paid on compensation currently at the rate of 2.68%. This is small comfort for owners in this hot property market, and we hope that the Valuer General is able to overcome the problems as the impacted owners and tenants whose land has already been acquired have already suffered enough.
For more assistance and legal support regarding these issues, consult our team of
Sydney lawyers who are experts in handling compulsory acquisitions and can provide the necessary guidance and representation.